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☆ Uber and Lyft riders explain why they do and don't tip their drivers — who only get tips a quarter of the time
▼ + stars: | 2024-06-19 | by ( Noah Sheidlower | Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Ron, a 76-year-old based in California, always leaves his ride-hailing driver a 20% tip unless they are a "complete jerk," he told BI. AdvertisementShould Uber and Lyft drivers always get tips? Rob Schlegel, a journalist turned real-estate agent in Las Vegas, tries to always tip his Uber or Lyft driver the highest suggested amount for each ride. The reasons people do or don't tip their Uber and Lyft drivers can be complicated. According to Gridwise data, roughly 30% of US Uber drivers drove at least 25 hours a week in the first quarter of 2024.

Persons: —, Valerie, haven't, Rob Schlegel, he's, Uber, Kellie Smith, Smith, it's, Carla Bevins, Bevins, DoorDash, Lillian, Lyft, Caroline, she's, Dee Dee, Carrie, It's, Bryan Organizations: Service, Business, Carnegie Mellon University, Uber, BI, Gridwise Locations: California, Las Vegas, Washington, US, Hampton Roads , Virginia

☆ La Huasteca Potosina: This hidden Eden in Mexico won’t stay undiscovered forever
▼ + stars: | 2024-04-08 | by ( Tree Meinch | ) edition.cnn.com time to read: +12 min

The remote landscapes of La Huasteca Potosina – part of the larger La Huasteca region spanning multiple states – include vast desert, lush mountains and rainforest nooks with turquoise rivers and waterfalls. Renting a car in the city of San Luis Potosí provides the most flexibility for visitors to chart their own paths through the state’s La Huasteca region. Corazón de Xoconostle and Auténtico San Luis both offer customized excursions from the city. Or maybe a night in the cozy town of Tamasopo on the western edge of La Huasteca Potosina. The city of San Luis Potosi is worth exploring and is a jumping-off point for a trip to La Huasteca to the east.

Persons: San Luis Potosí, Corazón de, Luna, Media Luna –, Don Juan Merendero, Juvencio Martínez Flores, Erich Schlegel, Luna wasn’t, ”, Saul Martínez Ramírez, Martínez, Puente, Puente de Dios, Dios, Mexico’s, parakeets, Miguel Galarraga, Corazon de Xoconostle, Mark Johanson, Estela Martínez, “, Elena Nilova, Salvador Dali, Edward James, James, Dali, –, Tilda Swinton, La Huasteca, Costanza Organizations: CNN, –, Hotel Media Luna, Chicago Tribune, San, Edward James Sculpture, Getty, W Magazine, La Locations: San Luis, Mexican, Madre, La, Mexico, San, Huasteca, Luis, Ciudad Valles, Media, It’s, Rioverde, Media Luna, ”, Dios, Tamasopo, Puente, Plop, las, Xilitla, Estela Martínez Santiago, San Isidro, Aquismón, Chicago, Sótano, Salvador, there’s, Mexico City, San Luis Potosi, Barrios, El, La Paz

☆ Do we simply not care about older adults in the US?
▼ + stars: | 2024-02-08 | by ( Judith Graham | Kff Health News | ) edition.cnn.com time to read: +8 min

KFF Health News —The Covid-19 pandemic would be a wake-up call for America, advocates for the elderly predicted: incontrovertible proof that the nation wasn’t doing enough to care for vulnerable older adults. Around 900,000 older adults have died of Covid-19 to date, accounting for 3 of every 4 Americans who have perished in the pandemic. Many seniors at high risk aren’t getting antiviral therapies for Covid, and most older adults in nursing homes aren’t getting updated vaccines. The pandemic made things worsePrejudice against older adults is nothing new, but “it feels more intense, more hostile” now than previously, said Karl Pillemer, 69, a professor of psychology and gerontology at Cornell University. But as a society, we don’t value older adults or the people who care for them,” said Robert Kramer, 74, co-founder and strategic adviser at the National Investment Center for Seniors Housing & Care.

Persons: —, ”, Alice Bonner, I’m, Karl Pillemer, “, ’, ’ ”, Andrew Achenbaum, Achenbaum, Covid, Edwin Walker, Robert Kramer, Kramer, John Rowe, Anne Montgomery, Allen Power, ” Power, it’s “, ” Pillemer Organizations: Health, America, CDC, Institute for Healthcare, gerontology, Cornell University, Texas Medical Center, Aging, Department of Health, Human Services, National Investment Center, Seniors Housing & Care, ”, Columbia University’s Mailman, of Public Health, National Committee, Preserve Social Security, Schlegel, University of Waterloo Research Institute, National Academy of Medicine’s, Healthy, University of Southern, Cornell, Kaiser Health, KFF Locations: Houston, Canada, University of Southern California

☆ Shiffrin wins slalom for 90th World Cup victory
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] Nov 26, 2023; Killington, Vermont, USA; Mikaela Shiffrin of the USA leads after the first slalom run of the Stifel Killington Cup FIS World Cup slalom at Killington Resort. Erich Schlegel-USA TODAY Sports Acquire Licensing RightsNov 26 (Reuters) - American Mikaela Shiffrin secured a record-extending 90th World Cup win on Sunday with victory in the women's slalom at Killington in Vermont. Swiss Wendy Holdener finished third, 1.37 seconds behind home favourite Shiffrin, who has now won six of the seven World Cup slalom events held at Killington. "It's a pretty incredible hill and especially in slalom I feel like I have a good mentality," Shiffrin said after her 55th World Cup slalom victory. The win for Shiffrin, who finished third in Saturday's giant slalom, also gave the American her 141st World Cup podium, which trails only the 155 earned by Swedish great Ingemar Stenmark during the 1970s and 80s.

Persons: Mikaela, Erich Schlegel, Shiffrin, Petra Vlhova, Swiss Wendy Holdener, I've, Levi, Germany's Lena Duerr, Vlhova, Frank Pingue, Hugh Lawson Organizations: USA, Olympic, Shiffrin, American, 141st, Thomson Locations: Killington , Vermont, USA, Killington, Vermont, Slovakia, Swiss, Germany's, Toronto

☆ Banks should slow deposit withdrawals, prepare better collateral to evade crises - SNB
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

"Liquidity assistance alone would not have resolved thecrisis," he said, adding that other measures like the eventual state-brokered takeover by rival Swiss bank UBS (UBSG.S) were needed. This limited the level of cash that could be offered via the Emergency Liquidity Assistance scheme (ELA), the SNB's usual tool as lender of last resort. Additional money was provided for Credit Suisse via the Emergency Liquidity Assistance (ELA+), which provided cash secured only by preferential rights if Credit Suisse went bankrupt rather than against collateral. In future, Schlegel said improved preparation of collateral was needed by banks to allow them to better access emergency funding through existing schemes. "ELA+ was necessary in the specific case of Credit Suisse, but it is not a model for managing future crises," Schlegel said.

Persons: Banks, Martin Schlegel, Schlegel, ELA, John Revill, Sharon Singleton Organizations: Credit, Credit Suisse, Reuters, Swiss National Bank, UBS, Thomson Locations: ZURICH, Basel, Swiss

☆ SNB vice-chairman says further rate hikes may be needed
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

The building of the Swiss National Bank is seen in Zurich, September 22, 2022. SNB last month held its policy interest rate unchanged at 1.75%, noting that inflation - at 1.6% in August and within the central bank's target range of 0-2% - had eased. The vast majority of economists polled by Reuters last month, however, said that the SNB was done with interest rate hikes. He also said that AT1 bonds, which were written off as part of UBS' (UBSG.S) takeover of Credit Suisse, should have been loss-making at an earlier stage. "Despite ongoing losses, Credit Suisse did not suspend interest payments on these instruments," Schlegel said.

Persons: Arnd, Martin Schlegel, SNB, Schlegel, Gabrielle Tétrault, Farber, Emelia Sithole Organizations: Swiss National Bank, REUTERS, Rights, Reuters, Swiss, Credit Suisse, UBS, Thomson Locations: Zurich, Swiss, Switzerland

☆ Swiss National Bank to expand liquidity provision to banks
▼ + stars: | 2023-09-21 | by ( Noele Illien | ) www.reuters.com time to read: +1 min

ZURICH, Sept 21 (Reuters) - The Swiss National Bank will provide funds secured against mortgages to all commercial banks, expanding liquidity provision to the sector, Vice Chairman Martin Schlegel said on Thursday. To take advantage of the support, which had previously only been available to systemically important banks, lenders must be able to transfer the mortgages to the central bank. The greater the number of banks that take the preparatory steps necessary to use the new possibility of obtaining liquidity, the greater will be the central bank's room for manoeuvre in time of need, Schlegel said. Earlier this month, Switzerland's central bank was criticised for being too restrictive in a report by a group of experts, including bankers and academics, formed in the wake of Credit Suisse's collapse. Schlegel said, by expanding the ways the country's banks can tap liquidity, the central bank was not lowering its standards.

Persons: Martin Schlegel, Schlegel, Noele, Tomasz Janowski Organizations: Swiss National Bank, Thomson Locations: ZURICH

☆ Swiss National Bank's Schlegel not deterred by recent inflation dip - newspaper
▼ + stars: | 2023-07-08 | by ( ) www.reuters.com time to read: +2 min

"Our mission is to guarantee price stability, that means inflation should be in the range of 0-2%," Schlegel told the newspaper. The market currently sees a 63% chance of a 25 basis point hike by the central bank at its next meeting in September. "This will make labour scarcer, which could mean higher wages and higher prices which would require higher interest rates," Schlegel said. Therefore less capital could be available which would put upward pressure on inflation-adjusted interest rates." The switch to renewable energies and the accompanying large investments this needed could also push up inflation and interest rates, he said.

Persons: Martin Schlegel, Schlegel, John Revill, Hugh Lawson Organizations: Swiss National Bank, Schweiz, Thomson Locations: ZURICH

☆ UBS's size will be taken into account - SNB Vice-Chairman
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: 1 min

ZURICH, June 22 (Reuters) - The Swiss National Bank will consider closely the size of UBS (UBSG.S) following the completion of its takeover of Credit Suisse, the central bank's vice-chairman said on Thursday. "Of course because it is such a big bank it needs to have higher capital requirements," Martin Schlegel told an news conference in Zurich. He also said the size and the importance of UBS, as well as its business model, will be taken into account from a financial stability perspective. Reporting by Noele Illien Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Martin Schlegel, Noele, Tomasz Janowski Organizations: Swiss National Bank, UBS, Credit Suisse, Thomson Locations: ZURICH, Zurich

☆ Louisiana Passes Bill That Would Require Parental Consent for Kids’ Online Accounts
▼ + stars: | 2023-06-08 | by ( Natasha Singer | ) www.nytimes.com time to read: +1 min

Over the last year, state legislators concerned about a mental health crisis among the nation’s young people have passed a raft of children’s online safety measures. Now Louisiana lawmakers have passed an even broader bill that could affect access to large swaths of the internet for minors in the state. The Louisiana measure would prohibit online services — including social networks, multiplayer games and video-sharing apps — from allowing people under 18 to sign up for accounts without parental consent. It would also allow Louisiana parents to cancel the terms-of-service contracts that their children signed for existing accounts on popular services like TikTok, Instagram, YouTube, Fornite and Roblox. Laurie Schlegel, the Republican state legislator who spearheaded the new measure, said her bill simply made it clear that the state’s existing contracting rules also covered accounts on online content-sharing platforms.

Persons: Laurie Schlegel Organizations: YouTube, Republican Locations: Utah, California, Louisiana

☆ Powerful Swiss central bank faces reform calls in wake of Credit Suisse rescue
▼ + stars: | 2023-04-28 | by ( John Revill | ) www.reuters.com time to read: +6 min

[1/2] The Swiss National Bank (SNB) building is seen near the Limmat river in Zurich, Switzerland March 23, 2023. The governance concerns have been brought centre-stage by the search for a new member to replace Andrea Maechler, the first woman to serve on the SNB's governing board. The Swiss parliament would have to approve any expansion of the SNB's board. Still, the SNB Observatory, a group of economists set up to stimulate a debate about the SNB, has suggested that the small committee meant the central bank was susceptible to group think. Thomas Stucki, a former head of asset management at the SNB, said it was typical for central bank chairmen to dominate decision-making.

"If this solution hadn't worked, Credit Suisse (CSGN.S) would have failed, with extreme consequences for Switzerland but also the global economy," he told a press conference. The SNB Chairman said it was vital for UBS's takeover of the 167-year-old Credit Suisse to go through as smoothly as possible in order to maintain financial stability. [1/2] The Swiss National Bank (SNB) building is seen near the Limmat river in Zurich, Switzerland March 23, 2023. The Bank of England is expected to increase its interest rate by a quarter percentage point later on Thursday. "Without today's policy rate increase, the inflation forecast would be even higher over the medium term," the central bank said.

☆ Swiss National Bank still willing to be active on forex markets, vice chairman says
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Feb 20 (Reuters) - The Swiss National Bank is "still willing" to be active on the foreign currency markets in pursuing its goal of price stability, Vice Chairman Martin Schlegel said on Monday. "If the Swiss franc depreciates we are ready to sell foreign exchange, if the Swiss franc appreciates strongly we are willing to buy foreign exchange," Schlegel told an event in Warsaw. The SNB had to react and "react forcefully" to tackle Swiss inflation, which peaked at 3.5% last year, Schlegel said. Although this level was quite low by international comparisons, it was still above the 0-2% range that the SNB defines as price stability, he said. "The most important contribution we can do for society is to have stability-orientated policy and maintain price stability."

☆ Democrats win control of Pennsylvania House, end GOP rule in competitive swing state
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: +4 min

Reading, PA - May 10: Pennsylvania State Rep and Democratic Leader Joanna E. McClinton speaks in front of Reading City Hall. Democrats won control of the Pennsylvania House in special elections Tuesday, wresting partial power from Republicans for the first time in a dozen years in the competitive swing state. Three of those Democratic seats quickly became vacant, casting uncertainty over who actually controlled the chamber. Democrats had been expected to win Tuesday's special elections, because they had easily won the same seats last fall. That's because Republican Rep. Lynda Schlegel Culver won a special election Jan. 31 to fill a vacant state Senate seat.

☆ Pornhub is requiring viewers in Louisiana to verify their age with a government ID as part of a new state law
▼ + stars: | 2023-01-04 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Pornhub is making users in Louisiana verify their age with a form of government ID, Vice reported. The move is part of the state's new law requiring porn sites to vet minors with age-verifying tech. But some experts say the law can increase surveillance and potentially hurt certain communities. The law considers minors as anyone under the age of 18. So far, Louisiana users can reportedly still access porn sites XVideos and XHamster without age verification, according to Vice, though OnlyFans is stuck on a loading page.

☆ Swiss National Bank loses nearly $143 billion in first nine months
▼ + stars: | 2022-10-31 | by ( John Revill | ) www.reuters.com time to read: +3 min

Gold holdings lost 1.1 billion francs in value. "The problem is the stagflationary environment where equities lose, bonds lose, gold loses and the Swiss franc becomes stronger. The loss could, however, mean that the central bank halts payouts to the Swiss federal and cantonal governments next year. Continued massive losses could wipe out the SNB's equity, which stood at 204 billion francs at the end of 2021. It helps the credibility of a central bank if it is well capitalized."

☆ Credit Suisse overhaul welcomed by Swiss National Bank - paper
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Oct 28 (Reuters) - The Swiss National Bank endorses the measures Credit Suisse (CSGN.S) has taken to transform the embattled Swiss bank and shore up its capital, SNB Vice Chairman Martin Schlegel said. "The SNB welcomes the steps recently announced for the strategic transformation of Credit Suisse," Schlegel told Swiss newspaper Finanz und Wirtschaft in an interview published online on Friday. At the same time, Credit Suisse is strengthening its capital base," added Schlegel, who oversees financial stability for the central bank. Credit Suisse on Thursday unveiled plans to raise 4 billion Swiss francs ($4.01 billion) from investors, cut thousands of jobs and shift its focus from investment banking more towards rich clients. UBS economists, meanwhile, expect the SNB to post a third-quarter loss of around 50 billion Swiss francs when it reports its results on Monday.

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